The global market for endometrial ablation is highly competitive and fragmented in nature, thanks to the existence of several players operating in it across the globe, states a research report by Transparency Market Research. Some of the leading players holding a key share of the market are Boston Scientific Corp., Hologic Corp., Cooper Surgical Inc., Medtronic Plc, and Ethicon Inc. The leading players in the market are expected to witness an intense competition on the basis of price, product, and services. Technological developments in this field and the rising number of mergers and acquisitions are projected to supplement the growth of the global endometrial ablation market in the coming years. Additionally, these players are making remarkable efforts to enhance their market presence in order to reach a large number of consumers across the globe and attain a leading position in the market.
As per the research study, the global endometrial ablation market is likely to register a healthy 5.50% CAGR between 2016 and 2024. The market is predicted to reach a value of US$1.3 bn by the end of 2024.
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Rising Gynecological Disorders to Bolster Asia Pacific Endometrial Ablation Market
Among the key regional segments, North America is projected to lead the global endometrial ablation market in the forecast period. The presence of advanced healthcare facilities and infrastructure is one of the major factors projected to encourage the growth of the global market in the next few years. As per the report, this region is anticipated to hold a share of around 44% of the global market by the end of 2024 and retain its leading position in the near future. On the contrary, the Asia Pacific endometrial ablation market is expected to offer promising growth opportunities for key players in the market. A potential rise in the prevalence of gynecological disorders owing to the lack of knowledge regarding hygiene is one of the major factors predicted to accelerate the growth of this region in the near future.
On the basis of device type, the segment for radiofrequency endometrial ablation devices is expected to account for a key share of the global market in the next few years. The rising demand for this device in comparison with the other endometrial ablation devices is predicted to benefit this segment and is likely to hold around 58% share of the market by the end of 2024. The robust growth of this segment can be attributed to the short surgical procedures, cost benefits, and the ease of use offered by endometrial ablation market. As a result, a significant rise in the rate of adoption is anticipated throughout the forecast period.
Rise in Prevalence of Gynecological Disorders to Augment Endometrial Ablation Market
The rising demand for minimally invasive surgical procedures is one of the key factors anticipated to encourage the growth of the endometrial ablation market in the coming years. An extensive rise in the rate of gynecological disorders across the globe and the rising consumer awareness concerning the availability of therapeutics are projected to accelerate the market’s growth in the next few years.
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Furthermore, advancements in technology, extensive rise in population, and the improving standard of living of consumers worldwide are likely to contribute towards the development of the overall endometrial ablation market in the coming few years. The rising spending capacity of patients on treatment is another major factor supplementing the growth of the market.
Risk of Equipment Failure to Curtail Market Growth
The global market for endometrial ablation is estimated to face several restrictions such as stringent rules and regulation imposed by governments and the risk of equipment failure. These factors are anticipated to hamper the growth of the global market. Nonetheless, the rising number of innovations and the catering the unmet needs in several developing economies are projected to accelerate the growth of the endometrial ablation market in the next few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Endometrial Ablation Market (Device Type – Cryoablation, Electrical Ablation, Hydrothermal Ablation, Hysteroscopy Devices, Microwave Endometrial Ablation, Radiofrequency Endometrial Ablation, Thermal Balloon Ablation, Ultrasound Transducers, and Laser Ablation; End Users – Hospitals, Clinics, and Ambulatory Surgical Centers) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”
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